OWNERSHIP STRUCTURE

SPM is a private company owned by management and Global Natural Resource Investments (GNRI). GNRI was formed in October 2015 after a management buyout of Barclays Natural Resource Investments (BNRI), a division of Barclays Capital, the investment banking division of Barclays Bank PLC.

SPM owns Compañia Minera Condestable (98.7%) and Compañia Minera Ariana (70%).